Fintech Company Instamojo Raises Fresh Funding From Gunosy Capital And Base

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Fintech Company Instamojo Raises Fresh Funding From Gunosy Capital And Base
  • In February 2020, Instamojo had acquired Time Internet’s GetMeAShop to serve small businesses in the country.
  • Till date, the company has raised over $8.4 million in funding.

Bangalore-based fintech company Instamojo has raised an undisclosed amount of funding from Singapore-based Gunosy Capital and Japan-based Base.

According to the reports, this is the second investment made by Singapore-based corporate venture capital firm Gunosy Capital. Last year, it had participated in Instamojo’s Series B funding round.

In January 2019, Instamojo had raised $7 million in a Series B funding round from Japan-based AnyPay, Gunosy Capital, BEENEXT, Kalaari Capital, Rashmi Kwatra (Founder & CIO at Sixteenth Street Capital).

Following, In March this year, The company had raised $944K (or about Rs 6.9 crore) in its venture round from Times Internet. Till date, The company has raised over $8.4 million in funding.

Earlier in February this year, fintech Instamojo had acquired Time Internet-owned digital commerce platform GetMeAShop to increase its reach to more small businesses in the country. Times Internet got ownership in Instamojo as part of the deal.

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The fintech company is funded by prominent angels and venture capital firms such as Rajan Anandan, Sunil Kalra, 500 Startups, Blume Ventures, Dave McClure, Rob de Heus, Thijs Gitmans, Pankaj Jain, Shailesh Rao, Bharathram Thothadri, and Avlesh Singh, BASE, Times Internet, AnyPay, Rashmi Kwatra, and Kalaari Capital.

In August 2018, Instamojo introduced mojoXpress and mojoCapital. mojoXpress provides a logistics solution enabling delivery of products sold on its eCommerce platform, while mojoCapital focused on providing credit and money lending solutions to small and micro-merchants.

During the lockdown, The company has reported that it had turned profitable in the first quarter of 2020, led by high merchandise gross values such as food retail, edtech, events, etc.

About Instamojo – Instamojo is a Bangalore-based fintech company founded in 2012 by Sampad Swain, Aditya Sengupta, Akash Gehani, and Harshad Sharma. The company helps small businesses in managing their digital payments and reconciliation.

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